Vietnam slashes red tape for petroleum and 9 other key industries
The Vietnamese government has introduced a new resolution to simplify business regulations in 10 key sectors overseen by the Ministry of Industry and Trade. Resolution No 19/2026/NQ-CP aims to cut red tape, particularly in the petroleum industry, where several licensing steps will be removed entirely. The changes took effect immediately, with some rules phased in over the next 30 days. The resolution makes sweeping changes to how petroleum businesses operate. General agents will no longer need to renew or amend eligibility certificates when working across multiple provinces. Licensing requirements for leasing ports, storage facilities and transport services have also been scrapped.
Retail outlets must still meet national standards for construction, fire safety and environmental protection. Distributors now need a minimum of five owned or leased retail outlets, plus another 10 operated by agents or franchisees. Wholesale traders face stricter infrastructure rules, requiring a port with at least 7,000 tonnes capacity, a 15,000 cubic metre storage facility, and a network of 10 retail outlets alongside 40 agents or dealers.
Experts suggest the reforms could lower compliance costs and boost market flexibility. However, they warn that stronger post-inspection checks will be needed to maintain oversight. The resolution remains in force until March 1, 2027. The government’s move reduces paperwork for primary traders, distributors, retail outlets and petroleum agents. Businesses will spend less time on licensing, though they must still meet safety and environmental standards. The changes apply immediately, with a short transition period for certain provisions.
